Audax Renovables (ADX) Q1 2025 earnings summary

Executive summary

• Vertically integrated energy group focused on 100% renewable generation and retail of electricity and gas, operating in 9 countries.

• EBITDA reached EUR 33.3M (+5.7% year-over-year), with revenues at EUR 571.2M (+18.5%).

• Net profit was EUR 12.7M (-24.7%), but proforma net profit rose to EUR 14.5M (+41.9%) after adjusting for one-off items.

• Customer base grew 15.8% to 455,000 supply points, and energy supplied increased 7.7% to 4.9 TWh.

• Strategic focus on profitability, cash position, and financial debt reduction to support future growth.

Financial highlights

• Revenues: EUR 571.2M (+18.5% year-over-year), driven by higher energy supplied and commodity prices.

• EBITDA: EUR 33.3M (+5.7%); EBIT: EUR 28.4M (+8.8%).

• Gross margin: EUR 62.8M (+3.6%).

• Net profit: EUR 12.7M (-24.7%), impacted by prior year’s extraordinary financial gains.

• Proforma net profit: EUR 14.5M (+41.9%), adjusting for exchange differences and bond amortization.

Outlook and guidance

• Projects under construction (84 MWp) expected to start production within 2025 as scheduled.

• Company maintains targets for financial debt reduction by year-end 2024.

• Strategic focus on expanding renewable generation and SME customer base.